MOATE FAMILY FOUNDATION

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SCHEDULE PURSUANT TO TREAS. REGULATIONS SEC 53.4942(A)-3(B)(7)(II) (A) A STATEMENT DESCRIBING THE NATURE AND PURPOSES OF THE SPECIFIC PROJECT FOR WHICH AMOUNTS ARE TO BE SET ASIDE; (B) A STATEMENT THAT THE AMOUNTS SET ASIDE FOR THE SPECIFIC PROJECT WILL ACTUALLY BE PAID FOR THE SPECIFIC PROJECT WITHIN A SPECIFIED PERIOD OF TIME THAT ENDS NOT MORE THAN 60 MONTHS AFTER THE DATE OF THE SET-ASIDE; (C) A STATEMENT THAT THE PROJECT WILL NOT BE COMPLETED BEFORE THE END OF THE TAXABLE YEAR OF THE PRIVATE FOUNDATION IN WHICH THE SET-ASIDE IS MADE; (D) A STATEMENT SHOWING THE DISTRIBUTABLE AMOUNTS DETERMINED UNDER SECTION 4942(D) FOR ANY PAST TAXABLE YEARS IN THE PRIVATE FOUNDATIONS START-UP AND FULL-PAYMENT PERIODS; AND (E) A STATEMENT SHOWING THE AGGREGATE AMOUNT OF ACTUAL PAYMENTS MADE IN CASH OR ITS EQUIVALENT, FOR PURPOSES DESCRIBED IN SECTION 170(C) (1) OR (2)(B), 53.4942(A)-3(B)(7)(II) (A)THERE ARE TWO PROJECTS WHICH WE ARE WORKING TOWARDS BUT ARE NOT YET READY TO EXECUTE AS THE TAXPAYER IS STILL WITHIN THE START-UP PERIOD. THE FIRST IS A SCHOLARSHIP PROGRAM FOR STUDENTS DESIRING TO ATTEND A MINISTRY SCHOOL, A BIBLE COLLEGE, OR MINISTERS LOOKING TO FURTHER THEIR EDUCATION ($60,000). THE SECOND PROJECT IS THE ESTABLISHMENT OF A MINISTRY CENTER USED FOR TEACHING, BUILDING COMMUNITY, AND SPREADING OF THE GOSPEL. (B) FOR EACH PROJECT, THE FOUNDATION IS SETTING ASIDE $60,000 FOR EACH PROJECT. DUE TO THE NATURE OF BEING A NEW FOUNDATION (STILL WITHIN ITS THE START-UP PERIOD), THE FOUNDATION NEEDS TIME TO SAVE SUFFICIENT FUNDS TO PROPERLY FINANCE THESE PROJECTS. IT IS THE FOUNDATIONS FULL CONVICTION THAT THESE WILL BE DONE WITHIN THE 60 MONTH PERIOD. SCHOLARSHIP PROGRAM = $50,000 MINISTRY CENTER = $75,000 (C) THESE PROJECTS WILL NOT BE COMPLETED BY THE END OF THE 2023 CALENDAR YEAR. (D) DISTRIBUTABLE AMOUNTS YEAR 2020 (INITIAL TAX YEAR) = NONE YEAR 2021 = NONE YEAR 2022 = 2,052 YEAR 2023 = 16,140 (E) AGGREGATE AMOUNTS PAID IN CASH OR ITS EQUIVALENT YEAR 2020 (INITIAL TAX YEAR) = NONE YEAR 2021 = NONE YEAR 2022 = NONE YEAR 2023 = 380,251

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Grants Awarded (20 total)